RadNet, the biggest operator of stand-alone diagnostic imaging centers in the U.S., hit reset after the initial impact of Covid on its business, according to the Los Angeles Business Journal. Its revenue plunged 78% in April 2020 versus a year earlier and took time to come back to pre-COVID levels.

The firm used the reversal as a chance reorganize and get ready for a new digital future — it closed and consolidated some of its centers, laid off about 375 staff, and brought new tech on board, such as 3D tomosynthesis, a boon to scanning dense breast tissue.


It also acquired DeepHealth in a $50 million stock deal — and its AI-driven mammogram technology.

In January 2021, DeepHealth software surpassed five full-time, breast-fellowship-trained expert radiologists in reading the same mammogram screenings, with the findings suggesting that the algorithms may help detect cancer one to two years earlier than standard interpretation in many cases.

“Most cancer researchers believe that patients whose cancer is detected and treated before it has metastasized have greater survival and can avoid more expensive therapies, and so detecting cancer one or two years earlier, when it has a lower chance of metastasis, implies both higher quality and lower cost of care,” lead author Bill Lotter, chief technology officer and co-founder of DeepHealth, told HCB News at the time.

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